Renovated, New Roof, Historic
1900 Louisville Bungalow, Full Rehab with Warranty — $124,500
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 6 | 1900 build, 3BR/1BA, open plan, fenced yard, off-street parking, no standout floor qualifier |
| Condition | 25% | 8 | Full rehab — new roof, HVAC, plumbing, flooring, appliances, 2-year warranty |
| Price / Sq Ft | 15% | 2 | Listing $113/sqft vs zip median ~$50/sqft — listing runs 126% above thin median |
| Price vs. Market | 5% | 4 | Listing $124,500 vs zip median $120,365 — roughly 3% above median, no discount |
| Market Conditions | 5% | 6 | DOM 59 days, sale-to-list 96.4%, price drops 36.6% — meaningful buyer leverage in zip |
The thing that makes this house worth a look is what's already been done to it. New roof, new HVAC, new plumbing, new flooring, new appliances. A 2-year home warranty on top of that. For a 124-year-old house in Louisville at this price, that's a lot of work someone else paid for and took on. You walk in and the mechanicals are current. That's the pitch.
The house is a single-story, three-bedroom, one-bath at 1,099 square feet on N 26th Street. Built in 1900. The living room and kitchen run together in one open layout, with white cabinets, granite countertops, and a full appliance package including range, refrigerator, microwave, and dishwasher. Vinyl plank flooring through the main areas, carpet in the bedrooms. Off-street parking out back and a fenced yard.
The downside is the price relative to what's around it. The zip code median sits around $50 per square foot. This one is listed at $113. That's a real gap, and it's been sitting 59 days with a price drop history in this zip of about 37 percent of listings. The market is telling you something. A buyer who comes in at ask is paying a significant premium over what comparable square footage has been moving for in this area. That's worth knowing before you write the number down.
What the rehab does buy you is the absence of an immediate repair bill. A house this old with original systems would hand you a list on day one. This one hands you a warranty instead. Whether that trade makes sense depends on what you can negotiate. The agent mentions down payment assistance programs for qualified buyers, potentially up to 20 percent or more, which could meaningfully reduce what you bring to close. If you can use one of those programs and negotiate the price toward where the market actually is, the math starts to look different. Three bedrooms, a fenced yard, off-street parking, and a house someone just finished putting back together. That's a livable situation on day one.
